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Home My WebLink About2009-04-07; City Council; 19762; Report on City investments as of 2/28/2009CITY OF CARLSBAD - AGENDA BILL AB# MTG. DEPT. 19,762 04/07/09 TRS REPORT ON CITY INVESTMENTS AS OF FEBRUARY 28, 2009 DEPT. HEAD\^r CITYATTY. ' rf&< CITYMGR.r-V RECOMMENDED ACTION: H Accept and file report. ITEM EXPLANATION: The City's Investment Policy requires the City Treasurer to report to the City Council on a monthly basis the status of the City's pooled investment portfolio. A quarterly report is also required for the investments of bond proceeds held separately. The City's pooled investment portfolio as of the month ended February 28, 2009 is summarized below. Pooled Investment Portfolio (Cash and Securities) Par Value Cost of Investments Amortized Cost (1) Market Value (2) Current Month 548,778,541 553,970,633 551 ,937,825 558,281 ,034 Prior Month 553,806,974 559,257,741 557,452,274 564,742,844 (1) The cost of investments adjusted for amortized premiums and discounts. (2) The amount at which the investments could be sold. Source of market values is Union Bank of California's custodial report as of 2/28/09. The equity portion of the various funds in the total portfolio is summarized in the graph below. Fund balances are restricted for various purposes. See Exhibit 7 for a more detailed breakdown. FUND EQUITY IN POOLED INVESTMENTS (Dollar Amounts in Millions) Special Revenue $45.6 Capital Projects $ 275.4 General Other $.3 Internal Service$24.8Agency$18.2 Enterprise $126.6 Total Treasurer's Investment Portfolio at Amortized Cost February 28,2009 $551.9 million FOR CITY CLERKS USE ONLY. COUNCIL ACTION: APPROVED D CONTINUED TO DATE SPECIFIC DENIED D CONTINUED TO DATE UNKNOWN CONTINUED D RETURNED TO STAFF WITHDRAWN D OTHER - SEE MINUTES AMENDED D Council accepted tbe report. D D D D DEPARTMENT CONTACT: Nancy Sullivan (760) 602-2473 nsull@ci.carlsbad.ca.us PAGE 2 OF AB REPORT ON CITY INVESTMENTS AS OF FEBRUARY 28, 2009 Pooled Investment Interest Income Cash Income Fiscal Year-to-Date * Current Month FYTD 17,173,665 Prior Month FYTD 14,527,138 Current Month Income 2,646,527 *The cash income received is adjusted for any accrued interest purchased. Pooled Investment Performance/Measurement December 2008 January 2009 February 2009 Average Life (Years) 1.84 1.69 1.56 Average Yield To Maturity 3.94% 3.76% 3.57% Modified Duration 1.701 1.568 1.445 All pooled investments have been made in accordance with the City's Investment Policy adopted January 2, 1985 and last revised February 13, 2007. All investments were initially made in accordance with the City's Investment Policy. Events subsequent to the purchase might have resulted in some investments not being in compliance with the current policy. These events are typically a change in the City's Investment Policy, a change in the credit rating subsequent to a purchase, or a temporary reduction in total portfolio assets. See Exhibit 8 for details. The pooled investment portfolio has the ability to meet the City's cash flow demands for the next six (6) months. EXHIBITS FOR POOLED INVESTMENTS: 1 . Investment Portfolio Breakdown By Amortized Cost, Market Value, Cash Income, and Average Yield 2. Investment Portfolio Breakdown Of Maturities 3. Yield Comparison Graph 4. Market Yield Curve 5. Cumulative Cash Income Graph 6. Third Quarter Transactions 7. Detailed Investment Report 8. Fund Equity in Pooled Investments 9. Corporate Note and Commercial Paper Ratings 10. Percentage Weightings By Corporate Note Issuer CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF FEBRUARY 28, 2009 BREAKDOWN BY AMORTIZED COST, MARKET VALUE, CASH INCOME, AND AVERAGE YIELD BY CLASS AVERAGE YIELD Class CD FN CP TR FA CN LAIF CUSTODY SWEEP BANK ACCT Current Month 33,000 7,582,300 0 2,058,246 328,016,930 93,514,848 118,656,376 662 1,524,163 551,299 Prior Month Current Month 33,000 2,939,500 0 2,059,229 361 ,277,222 93,542,389 94,904,070 409 2,127,741 568,714 33,000 7,619,240 0 2,123,280 335,632,042 92,140,971 118,656,376 662 1,524,163 551,299 Prior Month 33,000 2,987,100 0 2,122,730 369,525,132 92,473,948 94,904,070 409 2,127,741 568,714 Cash Income Year to Date Current Month Prior Month 422 0 0 0 12,553,692 3,366,539 1,244,307 1,720 6,986 0 1.88 3.11 0.00 2.44 3.85 4.74 1.97 0.20 0.01 0.01 1.88 3.11 0.00 2.44 3.99 4.74 2.06 0.15 0.00 0.00 TOTALS $551,937,825 $557,452,274 $558,281,034 $564,742,844 $17,173,665 3.57%3.76% CD - Certificate of Deposit FN - Federal Discount Notes CP - Corporate Paper TR - US Treasury FA - Federal Agency CN - Corporate Notes LAIF - Local Agency Investment Fund Custody - Investment Cash account SWEEP - General Fund Overnight Cash acccount Bank Account - General Fund Cash account mx DO CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF FEBRUARY 28,2009 BREAKDOWN OF MATURITIES BY CLASSIFICATION AND LENGTH OF TIME CLASS CD FN CP TR FA CN LAIF CUSTODY SWEEP BANKACCT TOTALS % TOTALS Total within One POLICY: WITHIN 6 MONTHS 33,000 0 0 0 67,444,461 7,171,222 118,656,376 662 1,524,163 551,303 $195,381,187 (1) 35.3% Year (1) Not less than $130,125 7 MONTHS TO 1 YEAR 0 2,914,250 0 0 33,279,080 12,012,386 0 0 0 0 $48,205,716 (1) 8.7% $243,586,904 (1) 44.0% ,000 to mature within one year. (2/3rds 1 TO 5 YEARS 0 0 0 2,062,109 233,612,391 74,709,233 0 0 0 0 $310,383,733 56.0% of current year operating budj TOTAL 33,000 2,914,250 0 2,062,109 334,335,932 93,892,841 118,656,376 662 1,524,163 551,303 $553,970,636 100.0% ;et of $195, 180,000.00) % TOTAL 0.0% 0.5% 0.0% 0.4% 60.4% 17.0% (2) 21.4% 0.0% 0.3% 0.1% 100.0% m X 3Ti— i DO (2) Policy states that not more than 30% of portfolio is to be invested in corporate notes. YIELD COMPARISON PORTFOLIO EX-LAIF VS. LAIF JULY 1996 - FEBRUARY 2009 8$&&^TC&l$d&t MARKET YIELD CURVE 6/30/07, 6/30/08, 2/28/09 Market Rates 5\ u.u 5 • 4 c mD 3 C _i mO 2 c.0 1511 .0 1I O c•On ^ ^— — - "^ "* ^ — - "*"* ^^ ^— ^ ^ ***^^^ ^^ — *• ^^ ^^^^^^' •^ ^ ^-~~~~*^-~~~ ^-~~-~~~~^*~~ U i i i i 3Mth 2Yr 5Yr 10 Yr 3Mth 2Yr 5 Yr 10 Yr —06/30/2007 4.86 4<84 4.89 4.99 -^-06/30/2008 1.73 2.62 3.33 3.97 -^•-02/28/2009 .25 .97 1.98 3.01 Xrni—ioo Cumulative Millions $ Cumulative Cash Income FY08-09 (February 09) 24 22 20 18 16 14 12 10 8 6 4 tf= Monthly Interest Income Millions $ 1.7 -hi 1.85 -2^T 2.65 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun {=n Interest Income —»—Budget Actual 8 7 6 5 4 3 2 1 0 Xrei—ierai—i—I tn City of Carlsbad TRANSACTIONS FOR PERIOD: 01/01/09 TO 02/28/09 3rd QUARTER 2008-2009 Trans Investment Date Date BUYS JANUARY 01/16/2009 01/20/2009 01/06/2009 01/20/2009 01/22/2009 01/23/2009 01/22/2009 01/23/2009 01/28/2009 01/29/2009 FEBRUARY 01/28/2009 02/12/2009 02/10/2009 02/11/2009 02/17/2009 02/18/2009 02/06/2009 02/27/2009 02/24/2009 02/25/2009 MARCH 02/27/2009 03/02/2009 02/27/2009 03/02/2009 02/24/2009 03/12/2009 Maturity Date 12/13/2013 01/20/2011 08/15/2011 09/09/201 1 08/15/2012 02/12/2014 08/08/201 1 05/11/2012 08/27/2012 05/11/2012 10/06/2012 05/11/2012 09/12/2012 Type FA FA FA FA FA FA FA FA FA FA FA FA FA Security FHLB FHLMC FHLB FHLB FHLB FNMA FICO FICO FNMA FICO FICO FICO FHLMC Call Date N/A 04/20/2009 N/A N/A N/A 02/12/2010 N/A N/A 08/27/2010 N/A N/A N/A N/A TOTAL THIRD QUARTER 2008-2009 MATURITIES JANUARY 09/30/2008 06/27/2005 01/13/2009 01/26/2009 FA FA FHLB FNMA N/A 01/26/2007 TOTAL THIRD QUARTER 2008-2009 CALLS and / or SALES JANUARY 09/30/2008 10/02/2008 09/17/2008 10/06/2008 01/02/2008 01/07/2008 02/12/2008 02/13/2008 05/09/2008 05/12/2008 03/04/2008 03/05/2008 10/02/2009 01/06/2010 01/07/2011 02/13/2012 01/23/2012 08/19/2011 FA FA FA FA FA FA FHLB FHLB FHLB FFCB FHLB FHLB 01/02/2009 01/06/2009 01/07/2009 01/16/2009 01/23/2009 01/26/2009 Par Value 2,000,000.00 3,000,000.00 1 ,000,000.00 1 ,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 1 ,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 24,000,000.00 2,000,000.00 3,000,000.00 5,000,000.00 2,000,000.00 2,000,000.00 3,000,000.00 1 ,000,000.00 1 ,000,000.00 1 ,000,000.00 Coupon 3.125% 2.000% 5.750% 5.000% 4.625% 2.0% STEP 0.000% 0.000% 2.625% 0.000% 0.000% 0.000% 0.000% 3.250% 4.000% 3.625% 3.000% 4.125% 3.875% 3.520% 3.550% Amount (Cost) 2,047,941 .08 3,000,000.00 1 ,097,950.00 1 ,077,520.00 2,150,960.00 2,000,000.00 1 ,889,240.00 916,713.56 2,000,000.00 1 ,826,280.00 1 ,793,820.00 1,818,680.00 2,000,000.00 23,619,104.64 2,000,000.00 2,993,100.00 4,993,100.00 2,000,000.00 2,000,000.00 3,000,000.00 998,700.00 1 ,000,000.00 1 ,000,000.00 Return Rate 2.60% 2.00% 1 .82% 1 .96% 2.39% 3.50% 2.30% 2.71% 2.63% 2.85% 3.05% 3.00% 2.71% 2.59% 3.25% 4.07% 3.74% 4.66% 3.00% 4.13% 3.91% 3.52% 3.55% Interest 258,135.31 120,000.00 49,313.89 53,868.89 176,901.11 355,000.00 110,760.00 83,286.44 183,750.00 173,720.00 206,180.00 181,320.00 190,000.00 2,142,235.64 18,597.22 436,566.67 455,163.89 93,125.00 75,000.00 371 ,250.00 156,300.00 130,142.22 122,672.22 Investment Return 2,306,076.39 3,120,000.00 1,147,263.89 1,131,388.89 2,327,861.11 2,355,000.00 2,000,000.00 1 ,000,000.00 2,183,750.00 2,000,000.00 2,000,000.00 2,000,000.00 2,190,000.00 25,761 ,340.28 2,018,597.22 3,429,666.67 5,448,263.89 2,093,125.00 2,075,000.00 3,371 ,250.00 1,155,000.00 1,130,142.22 1,122,672.22 mx IE i— i DO i— i— i en City of Carlsbad TRANSACTIONS FOR PERIOD: 01/01/09 TO 02/28/09 3rd QUARTER 2008-2009 Trans Date CALLS and 01/16/2008 02/01/2008 FEBRUARY 01/30/2008 01/11/2006 02/01/2008 05/16/2009 02/09/2006 03/28/2006 06/07/2006 05/02/2006 04/27/2006 10/31/2006 12/02/2008 MARCH 05/19/2008 08/05/2008 Investment Date / or SALES 01/28/2008 02/04/2008 02/04/2008 02/09/2006 02/20/2008 05/17/2006 02/24/2006 03/29/2006 06/09/2006 05/03/2006 04/28/2006 11/01/2006 12/03/2008 06/02/2008 08/06/2008 Maturity Date (continued) 01/28/2013 01/30/2013 02/04/2010 02/09/201 1 02/20/2013 02/24/201 1 02/24/201 1 02/24/201 1 02/24/201 1 02/24/201 1 02/24/201 1 02/24/201 1 08/26/201 1 12/02/2011 06/02/201 1 Type FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA Security FHLB FHLB FHLB FHLB FHLB FNMA FHLB FHLMC FHLMC FHLMC FHLMC FHLMC FHLMC FHLMC FHLMC Call Date 01/28/2009 01/30/2009 02/04/2009 02/09/2009 02/20/2009 02/24/2009 02/24/2009 02/24/2009 02/24/2009 02/24/2009 02/24/2009 02/24/2009 02/26/2009 03/02/2009 03/02/2009 Par Value 3,000,000.00 4,000,000.00 1 ,000,000.00 5,000,000.00 4,000,000.00 3,000,000.00 3,320,000.00 3,000,000.00 3,000,000.00 3,000,000.00 5,000,000.00 5,000,000.00 525,000.00 2,000,000.00 3,000,000.00 Coupon 4.200% 4.350% 3.200% 5.000% 4.000% 5.160% 5.150% 5.250% 5.250% 5.250% 5.250% 5.250% 3.500% 4.000% 3.125% Amount (Cost) 3,000,000.00 4,040,000.00 1 ,000,000.00 5,000,000.00 4,000,000.00 2,958,763.23 3,320,000.00 2,991,000.00 2,967,775.85 2,971,860.00 4,954,450.00 5,015,000.00 525,000.00 2,000,000.00 2,989,500.00 Return Rate 4.20% 4.13% 3.20% 5.00% 4.00% 5.49% 5.15% 5.32% 5.51% 5.47% 5.47% 5.17% 3.50% 4.00% 4.22% Interest 630,000.00 828,066.67 64,000.00 1 ,250,000.00 800,000.00 824,546.77 854,900.00 781,187.50 773,786.65 785,452.50 1,311,383.33 1,117,395.83 50,173.96 280,000.00 359,458.33 Investment Return 3,630,000.00 4,868,066.67 1 ,064,000.00 6,250,000.00 4,800,000.00 3,783,310.00 4,174,900.00 3,772,187.50 3,741 ,562.50 3,757,312.50 6,265,833.33 6,132,395.83 575,173.96 2,280,000.00 3,348,958.33 TOTAL THIRD QUARTER 2008-2009 57,845,000.00 57,732,049.08 4.67% 11,658,840.98 69,390,890.06 INVESTMENT REPORT AS OF FEBRUARY 28, 2009 INVESTMENT DATE 04/02/2004 04/16/2004 04/14/2004 04/07/2008 04/28/2004 05/05/2004 11/08/2007 06/11/2008 02/13/2008 03/14/2007 05/15/2007 07/25/2007 08/09/2007 03/05/2008 04/22/2008 02/13/2008 05/05/2008 07/25/2007 08/09/2007 04/04/2008 01/22/2008 10/27/2008 01/04/2008 03/13/2008 03/25/2008 05/15/2007 11/01/2006 01/22/2008 08/17/2007 03/14/2007 01/22/2008 02/01/2008 11/13/2007 03/19/2007 03/05/2008 01/22/2008 03/06/2008 01/28/2008 01/31/2008 01/22/2008 MATURITY DATE 03/16/2009 03/16/2009 03/17/2009 04/07/2009 04/28/2009 05/05/2009 05/12/2009 05/15/2009 05/28/2009 06/12/2009 06/12/2009 06/12/2009 06/12/2009 06/12/2009 06/30/2009 07/09/2009 07/17/2009 07/20/2009 07/20/2009 07/23/2009 07/27/2009 07/27/2009 07/30/2009 07/30/2009 07/30/2009 08/01/2009 08/05/2009 08/05/2009 08/17/2009 09/11/2009 09/11/2009 09/11/2009 09/30/2009 10/02/2009 10/23/2009 10/28/2009 11/06/2009 11/13/2009 11/13/2009 11/16/2009 TYPE FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA SECURITY FNMA 3.125% DUE 03/16/09 CALL 03/16/06 FNMA 3.125% DUE 03/16/09 CALL 03/16/06 FHLMC 2.5% DUE 3/17/09 CALL 3/17/06 FHLB 2.4% DUE 4/7/09 CALL 10/07/08 FHLMC 2.750% DUE 04/28/09 CALL 04/28/06 FHLMC DUE 05/05/09 CALL 05/05/05 FFC 9.55% DUR 5/12/09 NON-CALL FNMA 4.25% DUE 5/15/09 NON-CALL FHLB 4.07% DUE 5/28/09 NON-CALL FHLB 5.25% DUE 6/12/09 NON-CALL FHLB 5.25% DUE 6/12/09 NON-CALL FHLB 5.25% DUE 6/12/09 NON-CALL FHLB 5.250% DUE 6/12/09 NON-CALL FHLB 5.250% DUE 6/12/09 NON-CALL FHLMC 4.10% DUE 6/30/09 NON-CALL FHLMC 3.25% DUE 7/9/09 NON-CALL FHLB 5.375% DUE 7/17/09 NON-CALL FFCB 5.15% DUE 7/20/09 NON-CALL FFCB 5.150% DUE 7/20/09 NON-CALL FHLB 3.1% DUE 7/23/09 NON-CALL FHLB 4.180% DUE 7/27/09 NON-CALL FHLB 3.10% DUE 7/27/09 NON-CALL FHLMC 4.375% DUE 7/30/09 NON-CALL FHLMC 4.375% DUE 7/30/09 NON-CALL FHLMC 4.375% DUE 7/30/09 NON-CALL HUD 4.430% DUE 8/1/09 NON-CALL FHLB 5.25% DUE 8/05/09 NON-CALL FHLB 5.25% DUE 8/5/09 NON-CALL FFCB 5.00% DUE 8/17/09 NON-CALL FHLB 4.378% DUE 9/11/09 NON-CALL FHLB 4.375% DUE 9/11/09 NON-CALL FHLB 5.25% DUE 9/11/09 NON-CALL FHLMC 3.5$ DUE 9/30/09 NON-CALL FHLB 5.0% DUE 10/2/09 NON-CALL FFCB 5.00% DUE 10/23/09 NON-CALL FNMA 4.0% DUE 10/28/09 NON-CALL FFCB 4.350% DUE 11/06/09 NON-CALL FFCB 4.125% DUE 11/13/09 NON-CALL FHLB 4.25% DUE 11/13/09 NON-CALL FNMA 4.0% DUE 11/16/09 NON-CALL PAR VALUE 3,000,000.00 3,000,000.00 2,000,000.00 2,000,000.00 5,000,000.00 5,000,000.00 2,000,000.00 1 ,005,000.00 1 ,000,000.00 2,000,000.00 5,000,000.00 2,000,000.00 2,000,000.00 4,000,000.00 1 ,000,000.00 2,000,000.00 3,000,000.00 1 ,000,000.00 2,000,000.00 2,000,000.00 500,000.00 1 ,000,000.00 1 ,270,000.00 1 ,000,000.00 2,000,000.00 1 ,000,000.00 5,000,000.00 2,000,000.00 3,000,000.00 2,000,000.00 3,000,000.00 1 ,000,000.00 1 ,000,000.00 3,000,000.00 2,000,000.00 500,000.00 1 ,000,000.00 2,000,000.00 1 ,000,000.00 2,000,000.00 INVESTED AMOUNT 2,973,270.00 2,913,835.02 1 ,980,625.00 2,000,000.00 5,000,000.00 5,000,000.00 2,155,378.00 1,018,080.08 1,019,418.00 2,022,809.38 5,030,000.00 2,006,972.34 2,015,549.68 4,150,240.00 1,016,880.00 2,020,560.00 3,103,028.04 1 ,001 ,858.80 2,012,808.76 2,019,092.00 508,810.00 1 ,000,000.00 1 ,286,826.23 1,027,740.00 2,052,000.00 990,198.00 5,048,115.85 2,070,366.00 3,000,000.00 1 ,984,643.55 3,070,602.00 1,041,519.37 990,283.25 3,014,820.00 2,090,620.00 508,645.00 1 ,031 ,080.00 2,049,060.00 1 ,024,930.00 2,038,020.00 RETURN RATE 3.321% 3.770% 4.200% 2.400% 3.474% 4.262% 4.190% 2.817% 2.530% 4.705% 4.940% 5.050% 4.800% 2.230% 2.646% 2.500% 2.450% 5.050% 4.800% 2.350% 2.981% 3.100% 3.500% 2.320% 2.400% 4.900% 4.870% 2.891% 5.000% 4.705% 2.890% 2.600% 4.040% 4.790% 2.160% 2.986% 2.434% 2.711% 2.805% 2.916% INTEREST 491,313.33 547,102.48 415,625.00 48,000.00 875,000.00 1 ,075,000.00 133,244.22 26,547.63 33,152.83 212,857.29 514,687.50 190,485.99 177,825.32 116,343.33 31,864.44 70,801.11 90,471.96 100,425.92 187,755.13 61,680.22 22,830.28 23,250.00 70,530.37 32,659.31 65,881 .94 107,754.22 676,675.82 90,925.67 300,000.00 233,377.28 144,137.58 43,073.96 75,536.19 365,596.67 72,713.33 26,688.33 41 ,420.00 98,752.50 50,861 .67 107,313.33 INVESTMENT RETURN 3,464,583.33 3,460,937.50 2,396,250.00 2,048,000.00 5,875,000.00 6,075,000.00 2,288,622.22 1 ,044,627.71 1 ,052,570.83 2,235,666.67 5,544,687.50 2,197,458.33 2,193,375.00 4,266,583.33 1 ,048,744.44 2,091,361.11 3,193,500.00 1,102,284.72 2,200,563.89 2,080,772.22 531 ,640.28 1 ,023,250.00 1 ,357,356.60 1,060,399.31 2,117,881.94 1 ,097,952.22 5,724,791 .67 2,161,291.67 3,300,000.00 2,218,020.83 3,214,739.58 1 ,084,593.33 1,065,819.44 3,380,416.67 2,163,333.33 535,333.33 1 ,072,500.00 2,147,812.50 1 ,075,791 .67 2,145,333.33 TERM (Days) 1,809 1,795 1,798 365 1,826 1,826 551 338 470 821 759 688 673 464 434 512 438 726 711 475 552 273 573 504 492 809 1,008 561 731 912 598 588 687 928 3 597 S 645 S 610 ~* 655 ~"J 652 664 INVESTMENT REPORT AS OF FEBRUARY 28, 2009 INVESTMENT DATE 01/22/2008 01/22/2008 02/01/2008 01/28/2008 01/31/2008 09/29/2008 01/28/2008 09/17/2008 02/04/2008 02/13/2008 04/02/2008 10/30/2008 04/22/2008 01/28/2008 04/28/2008 07/25/2007 04/22/2008 05/05/2008 12/21/2007 02/26/2008 05/08/2008 08/05/2008 10/09/2007 07/25/2007 07/15/2008 03/12/2008 02/20/2008 02/13/2008 10/30/2007 02/12/2008 09/18/2007 09/26/2007 05/08/2008 12/05/2008 09/26/2007 05/05/2008 11/20/2008 12/09/2008 12/23/2008 12/05/2008 "- 01/20/2009 MATURITY DATE 11/18/2009 12/11/2009 01/29/2010 02/12/2010 02/12/2010 02/12/2010 03/08/2010 03/10/2010 03/12/2010 03/12/2010 03/12/2010 03/12/2010 04/07/2010 04/28/2010 04/28/2010 05/03/2010 05/11/2010 05/14/2010 05/28/2010 06/11/2010 06/11/2010 06/16/2010 06/22/2010 07/06/2010 07/15/2010 07/26/2010 07/28/2010 07/30/2010 08/10/2010 08/12/2010 08/23/2010 09/10/2010 09/10/2010 09/10/2010 09/13/2010 10/22/2010 11/19/2010 12/09/2010 12/30/2010 12/16/2010 01/20/2011 TYPE FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA SECURITY FHLMC 4.125% DUE 11/18/09 NON-CALL FHLB 5.0% DUE 12/11/09 NON-CALL FHLMC 3.25% DUE 1/29/10 CALL 7/29/08 FHLB 3.875% DUE 2/12/10 NON-CALL FHLB 37.375% DUE 2/12/10 NON-CALL FHLMC 3.125% DUE 2/12/10 NON- CALL FNMA 4.40% DUE 03/08/10 NON-CALL FHLMC 3.00% DUE 3/10/10 CALL 12/10/08 FHLB 2.375% DUE 3/12/10 NON-CALL FHLB 2.375% DUE 3/12/10 NON-CALL FHLB 2.750% DUE 3/12/10 NON-CALL FHLB 2.750% DUE 3/12/10 NON-CALL FFCB 2.375% DUE 4/7/10 NON-CALL FHLMC 4.02% DUE 4/28/10 NON-CALL FNMA 3.0% DUE 4/28/10 CALL 4/28/09 FFCB 4.780% DUE 5/03/10 NON-CALL FFCB 5.320% DUE 5/11/10 NON-CALL FHLB 7.625% DUE 5/14/10 NON-CALL FNMA 3.625% DUE 5/28/10 NON-CALL FHLB 4.25% DUE 6/11/10 NON-CALL FHLB 3.00% DUE 6/11/10 NON-CALL FHLMC 3.50% DUE 6/16/10 NON-CALL FHLB 4.5% DUE 6/22/10 NON-CALL FNMA 5.125% DUE 7/6/10 NON-CALL FFCB 3.200% DUE 7/15/10 NON-CALL FHLB 4.44% DUE 7/26/10 NON-CALL FNMA 4.70% DUE 7/28/10 NON-CALL FHLB 5.00% DUE 7/30/10 NON-CALL FHLB 4.7% DUE 8/10/10 NON-CALL FHLB 3.190% DUE 8/12/10 CALL 8/12/08 FHLMC 5.125% DUE 8/23/10 NON-CALL FHLB 5.125% DUR 9/10/10 NON-CALL FHLB 3.00% DUE 9/10/10 NON-CALL FHLB 3.375% DUE 9/10/10 NON-CALL FFCB 5.25% DUE 9/13/10 NON-CALL FHLB 4.375% DUE 10/22/10 NON-CALL FFCB 2.875% DUE 11 /19/10 CALL 5/19/09 FNMA 3.00% DUE 12/9/10 CALL 3/9/09 FHLB 1.70% DUE 12/30/10 CALL 12/30/09 FHLMC 4.50% DUE 12/16/10 FHLMC 2.0% DUE 1/20/11 CALL 4/20/09 PAR VALUE 2,080,000.00 3,000,000.00 3,000,000.00 1 ,000,000.00 2,000,000.00 3,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 1 ,000,000.00 3,000,000.00 2,000,000.00 1 ,500,000.00 3,000,000.00 2,000,000.00 1 ,000,000.00 3,000,000.00 2,000,000.00 1,000,000.00 1 ,000,000.00 3,000,000.00 3,000,000.00 1,000,000.00 1,000,000.00 1 ,000,000.00 3,000,000.00 2,550,000.00 1,000,000.00 3,000,000.00 3,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 1 ,000,000.00 2,000,000.00 1,000,000.00 1 ,000,000.00 3,000,000.00 3,000,000.00 INVESTED AMOUNT 2,124,168.80 3,114,720.00 3,000,000.00 1,020,550.00 2,177,668.00 2,997,750.00 2,064,240.00 2,000,000.00 1,989,880.00 1,994,095.84 1 ,006,020.00 2,978,060.95 1 ,984,800.00 1,537,935.00 2,999,250.00 1 ,981 ,720.00 1,050,120.00 3,273,695.78 1,996,499.26 1 ,030,795.00 999,862.00 3,010,680.00 2,991,510.00 1,000,640.00 1 ,000,000.00 1 ,043,000.00 3,134,430.00 2,688,248.25 1 ,009,328.80 3,000,000.00 3,048,120.00 2,034,188.23 1 ,994,876.00 2,032,660.00 2,041 ,700.00 1 ,032,893.26 2,000,000.00 1 ,000,000.00 1 ,000,000.00 3,119,880.00 3,000,000.00 RETURN RATE 2.918% 2.900% 3.250% 2.830% 2.841% 3.180% 2.821% 3.000% 2.622% 2.520% 2.430% 3.300% 2.776% 2.850% 3.013% 5.135% 2.790% 2.950% 3.700% 2.849% 3.005% 3.300% 4.610% 5.100% 3.200% 2.559% 2.786% 2.710% 4.337% 3.190% 4.530% 4.500% 3.115% 2.420% 4.490% 2.980% 2.875% 3.000% 1.700% 2.470% 2.000% INTEREST 112,177.87 168,196.67 194,458.33 58,456.94 122,248.67 130,635.42 121,537.78 88,833.33 110,133.89 104,730.55 47,452.22 134,689.05 108,220.83 97,740.00 180,750.00 283,304.44 59,087.78 189,522.97 180,118.80 66,482.78 62,888.00 185,028.33 373,365.00 150,405.14 64,000.00 62,326.67 209,453.33 175,897.58 121,226.76 239,250.00 402,452.92 268,756.21 145,457.34 86,402.50 269,508.33 74,901 .88 114,840.28 60,000.00 34,000.00 154,245.00 120,000.00 INVESTMENT RETURN 2,236,346.67 3,282,916.67 3,194,458.33 1 ,079,006.94 2,299,916.67 3,128,385.42 2,185,777.78 2,088,833.33 2,100,013.89 2,098,826.39 1 ,053,472.22 3,112,750.00 2,093,020.83 1 ,635,675.00 3,180,000.00 2,265,024.44 1,109,207.78 3,463,218.75 2,176,618.06 1 ,097,277.78 1,062,750.00 3,195,708.33 3,364,875.00 1,151,045.14 1 ,064,000.00 1,105,326.67 3,343,883.33 2,864,145.83 1,130,555.56 3,239,250.00 3,450,572.92 2,302,944.44 2,140,333.34 2,119,062.50 2,31 1 ,208.33 1,107,795.14 2,114,840.28 1 ,060,000.00 1 ,034,000.00 3,274,125.00 3,120,000.00 TERM (Davs) 666 689 728 746 743 501 770 539 767 758 709 498 715 821 730 1,013 749 739 889 836 764 680 987 1,077 730 866 889 898 1,015 912 1,070 1,080 855 644 1,083 900 729 730 737 741 730 INVESTMENT REPORT AS OF FEBRUARY 28, 2009 INVESTMENT DATE 02/20/2008 03/24/2006 04/20/2006 04/28/2006 11/20/2007 01/28/2008 08/06/2008 08/31/2007 05/08/2008 09/17/2008 03/15/2007 06/30/2006 08/07/2008 03/09/2007 08/01/2007 08/31/2007 05/08/2008 02/11/2009 03/19/2007 01/23/2009 08/26/2008 05/29/2008 03/05/2007 03/15/2007 01/23/2009 10/30/2007 03/15/2007 10/05/2007 10/19/2007 03/05/2008 03/19/2007 06/02/2008 03/26/2007 03/26/2007 04/20/2007 08/17/2007 05/21/2007 02/18/2009 02/25/2009 07/25/2007 s 11/19/2008 MATURITY DATE 03/11/2011 03/24/201 1 04/06/201 1 04/06/201 1 05/20/201 1 05/20/201 1 06/02/201 1 06/10/2011 06/10/2011 06/10/2011 06/15/2011 06/30/201 1 07/07/201 1 07/14/2011 07/15/2011 07/15/2011 07/15/2011 08/08/201 1 08/15/2011 08/15/2011 08/26/201 1 08/29/201 1 09/09/201 1 09/09/201 1 09/09/201 1 09/15/2011 10/05/2011 10/05/2011 10/19/2011 10/27/2011 11/18/2011 12/02/2011 03/26/2012 03/26/2012 03/26/2012 04/03/2012 04/12/2012 05/11/2012 05/11/2012 05/23/2012 06/04/2012 TYPE FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA SECURITY FHLB 2.875% DUE 3/11/11 NON-CALL FHLB 5.25% DUE 3/24/11 CALL 3/24/09 FNMA 5.25% DUE 4/6/11 CALL 4/06/09 FNMA 5.25% DUE 4/6/11 CALL 4/06/09 FHLB 4.5% DUE 5/20/11 CALL 11/20/09 FHLB 4.5% DUE 5/20/11 CALL 11/20/09 FHLMC 3.125% DUE 6/2/11 CALL 12/02/08 FHLB 5.275% DUE 6/10/11 NON-CALL FHLB 5.25% DUE 6/10/11 NON-CALL FHLB 5.25% DUE 6/10/11 NON-CALL FHLMC 5.03% DUE 6/15/11 CALL 6/15/09 FHLB 5.650% DUE 6/30/11 CALL 6/30/09 FNMA 4.00% DUE 07/07/11 CALL 07/07/09 FNMA 3.64% DUE 7/14/11 NON-CALL FAMCA 5.50% DUE 7/15/11 NON-CALL FAMCA 5.50% DUE 7/15/11 NON-CALL FAMCA 5.5% DUE 7/15/11 NON-CALL FICO STRIP 0.00% DUE 8/8/11 NON-CALL FHLB 5.75% DUE 8/15/11 NON-CALL FHLB 5.75% DUE 8/15/11 NON-CALL FNMA 4.0% DUE 8/26/11 CALL 8/26/09 FHLMC 3.53% DUE 8/29/11 CALL 5/29/09 FHLB 5.00% DUE 9/9/11 NON-CALL FHLB 5.00% DUE 9/9/11 NON-CALL FHLB 5.00% DUE 9/9/11 NON-CALL FHLMC 5.50% DUE 9/15/11 NON-CALL FHLB 4.875% DUE 10/05/11 NON-CALL FHLB 4.9% DUE 10/05/11 CALL 10/05/09 FHLB 5.00% DUE 10/19/11 CALL 10/19/09 FHLB 5.30% DUE 10/27/11 CALL 10/27/09 FHLB 4.875% DUE 11/18/11 NON-CALL FHLMC 4.0% DUE 12/02/11 CALL 12/02/08 FHLMC 5.0% DUE 3/26/12 CALL 3/26/10 FHLMC 5.0% DUE 3/26/12 CALL 3/26/10 FHLMC 5.0% DUE 3/26/12 CALL 3/26/10 FHLMC 5.25% DUE 4/3/12 CALL FFCB 4.875% DUE 4/12/12 NON-CALL FICO STRIP 0.00% DUE 5/11/12 NON-CALL FICO STRIP 0.00% DUE 5/11/12 NON-CALL TVA 6.790% DUE 5/23/12 NON-CALL FHLMC 5.4% DUE 6/4/12 CALL 6/4/09 PAR VALUE 3,000,000.00 3,000,000.00 3,000,000.00 2,421,000.00 2,000,000.00 3,000,000.00 3,000,000.00 1 ,000,000.00 1 ,000,000.00 2,000,000.00 5,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 3,000,000.00 629,000.00 2,000,000.00 2,000,000.00 3,000,000.00 1 ,000,000.00 1 ,000,000.00 1 ,000,000.00 2,000,000.00 3,000,000.00 1 ,000,000.00 3,000,000.00 3,000,000.00 2,000,000.00 3,000,000.00 2,000,000.00 3,000,000.00 2,000,000.00 2,000,000.00 3,000,000.00 1 ,000,000.00 3,000,000.00 2,000,000.00 1 ,000,000.00 2,000,000.00 2,000,000.00 1 ,000,000.00 INVESTED AMOUNT 2,993,378.76 3,000,000.00 2,976,375.00 2,396,790.00 2,016,000.00 3,078,630.00 2,989,500.00 1 ,020,930.00 1 ,055,434.00 2,132,207.14 5,000,000.00 2,000,000.00 1 ,996,500.00 1 ,909,480.00 3,034,380.00 644,775.32 2,116,712.00 1 ,889,240.00 3,111,810.00 1 ,097,950.00 999,500.00 1 ,000,000.00 2,018,200.00 3,032,352.00 1,077,520.00 3,117,300.00 3,018,777.00 2,000,000.00 3,000,000.00 2,085,000.00 3,009,690.00 2,000,000.00 2,000,000.00 3,000,000.00 999,687.50 2,998,500.00 1 ,987,880.00 916,713.56 1,826,280.00 2,130,980.00 1,016,580.00 RETURN RATE 2.950% 5.250% 5.433% 4.483% 4.252% 3.651% 4.223% 4.761% 3.345% 2.720% 5.030% 5.650% 4.063% 4.805% 5.175% 4.781% 3.545% 2.300% 4.800% 1.818% 4.018% 3.530% 4.773% 4.730% 1 .958% 4.390% 4.720% 4.900% 5.000% 4.033% 4.795% 4.000% 5.000% 5.000% 5.006% 5.261% 5.015% 2.710% 2.850% 5.235% 4.884% INTEREST 270,402.49 787,500.00 805,000.00 651,955.12 299,000.00 368,370.00 359,458.33 181,976.25 106,732.67 154,501.19 1 ,068,875.00 565,000.00 236,833.33 406,997.78 618,286.67 118,184.21 233,760.22 110,760.00 648,148.33 49,313.89 120,500.00 114,725.00 432,911.11 640,148.00 53,868.89 522,075.00 647,473.00 392,000.00 600,000.00 301,311.11 672,403.75 280,000.00 500,000.00 750,000.00 246,979.17 730,375.00 489,057.50 83,286.44 173,720.00 524,632.22 174,670.00 INVESTMENT RETURN 3,263,781.25 3,787,500.00 3,781 ,375.00 3,048,745.12 2,315,000.00 3,447,000.00 3,348,958.33 1,202,906.25 1,162,166.67 2,286,708.33 6,068,875.00 2,565,000.00 2,233,333.33 2,316,477.78 3,652,666.67 762,959.53 2,350,472.22 2,000,000.00 3,759,958.33 1,147,263.89 1,120,000.00 1,114,725.00 2,451,111.11 3,672,500.00 1,131,388.89 3,639,375.00 3,666,250.00 2,392,000.00 3,600,000.00 2,386,311.11 3,682,093.75 2,280,000.00 2,500,000.00 3,750,000.00 1 ,246,666.67 3,728,875.00 2,476,937.50 1 ,000,000.00 2,000,000.00 2,655,612.22 1,191,250.00 TERM (Days) 1,115 1,826 1,812 1,804 1,277 1,208 1,030 1,379 1,128 996 1,553 1,826 1,064 1,588 1,444 1,414 1,163 908 1,610 934 1,095 1,187 1,649 1,639 959 1,416 1,665 1,461 1,461 1,331 1,705 1,278 1,827 1,827 1,802 1,691 1,788 1,178 1,171 1,764 1,293 INVESTMENT REPORT AS OF FEBRUARY 28, 2009 SECURITY FHLB 5.375% DUE 6/8/12 NON-CALL FHLB 5.375% DUE 6/8/12 NON-CALL FHLB 4.375% DUE 6/8/12 NON-CALL FHLB 5.750% DUE 6/26/12 CALL 6/26/09 FHLB 5.58% DUE 7/20/12 CALL 7/20/10 FFCB 3.950% DUE 7/23/12 NON-CALL FHLB 5.52% DUE 7/30/12 CALL 7/30/10 FHLB 4.35% DUE 8/13/12 CALL 8/13/10 FHLB 4.625% DUE 8/15/12 NON-CALL FNMA 2.625% DUE 8/27/12 CALL 8/27/10 FHLB 4.0% DUE 9/6/13 NON-CALL FNMA 5.20% DUE 9/10/12 CALL 9/13/09 FHLB 5.00% DUE 9/14/12 NON-CALL FHLB 4.5% DUE 9/14/12 NON-CALL FHLMC 5.05% DUE 10/15/12 CALL 10/15/09 FFCB 4.5% DUE 10/17/12 NON-CALL FHLB 5.00% DUE 10/22/12 CALL 4/22/10 FNMA 5.00% DUE 10/30/12 CALL 10/30/09 FNMA 5.00% DUE 10/30/12 CALL 10/30/09 FNMA 6.41% DUE 11/13/12 NON-CALL FHLMC 4.375% DUE 12/21/12 CALL 12/21/09 FHLMC 4.375% DUE 12/21/12 CALL 12/21/09 FHLB 4.7% DUE 1/7/13 CALL 1/7/10 FHLB 4.25% DUE 01/14/13 CALL 10/14/08 FHLB 3.50% DUE 3/8/13 NON-CALL FHLMC 4.00% DUE 3/18/13 CALL 9/18/08 FHLB 4.00% DUE 5/14/13 CALL 5/15/10 FHLMC 4.0% DUE 6/10/13 CALL 6/10/09 FHLB 5.375% DUE 6/14/13 NON-CALL FFCB 4.625% DUE 7/8/13 CALL 7/8/10 FNMA 4.375% DUE 7/17/13 NON-CALL FHLB 4.375% DUE 9/13/13 NON-CALL FNMA 4.05% DUE 9/18/13 CALL 9/18/09 FHLMC 50.5% DUE 9/25/13 CALL 9/25/09 FHLB 3.5% DUE 11/25/13 CALL 11/26/10 FHLB 3.125% DUE 12/13/13 NON-CALL FNMA 2.00% DUE 2/12/14 CALL 2/12/10 SUB-TOTAL 330,207,000.00 334,335,931.80 3.848% 44,884,579.15 379,220,510.95 1,162 10/23/2008 10/01/2009 FN FHLBN 0% DUE 10/01/09 NON-CALL 3,000,000.00 2,914,250.00 3.109% 171,500.00 3,085,750.00 343 INVESTMENT DATE 07/25/2007 07/25/2007 07/15/2008 03/18/2008 12/10/2007 08/05/2008 07/30/2007 08/13/2008 01/29/2009 02/27/2009 11/12/2008 09/10/2007 05/05/2008 08/22/2008 10/29/2007 12/10/2007 10/22/2007 11/28/2007 12/06/2007 06/03/2008 12/21/2007 12/21/2007 01/23/2008 01/14/2008 03/10/2008 03/18/2008 05/14/2008 06/10/2008 11/10/2008 12/03/2008 08/27/2008 12/17/2008 11/12/2008 11/19/2008 11/26/2008 01/20/2009 02/12/2009 MATURITY DATE 06/08/2012 06/08/2012 06/08/2012 06/26/2012 07/20/2012 07/23/2012 07/30/2012 08/13/2012 08/15/2012 08/27/2012 09/06/2013 09/10/2012 09/14/2012 09/14/2012 10/15/2012 10/17/2012 10/22/2012 10/30/2012 10/30/2012 11/13/2012 12/21/2012 12/21/2012 01/07/2013 01/14/2013 03/08/2013 03/18/2013 05/14/2013 06/10/2013 06/14/2013 07/08/2013 07/17/2013 09/13/2013 09/18/2013 09/25/2013 11/26/2013 12/13/2013 02/12/2014 TYPE FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA PAR VALUE 1,000,000.00 1,000,000.00 3,000,000.00 2,000,000.00 1 ,000,000.00 2,000,000.00 1 ,770,000.00 2,000,000.00 2,000,000.00 2,000,000.00 1,000,000.00 1,000,000.00 1,175,000.00 1 ,000,000.00 1 ,000,000.00 2,000,000.00 2,000,000.00 3,000,000.00 2,000,000.00 1 ,807,000.00 5,000,000.00 4,000,000.00 2,000,000.00 3,000,000.00 3,000,000.00 1 ,000,000.00 2,000,000.00 3,000,000.00 1 ,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 1 ,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 INVESTED AMOUNT 1 ,005,040.00 1 ,005,254.43 3,050,958.11 2,075,680.00 1 ,037,000.00 2,002,900.00 1,770,000.00 1,999,500.00 2,150,960.00 2,000,000.00 1 ,007,890.00 1 ,000,000.00 1,238,814.19 1 ,022,730.00 1 ,006,875.00 2,034,780.00 2,000,000.00 3,033,000.00 2,030,000.00 1 ,990,388.82 5,000,000.00 4,000,000.00 2,056,800.00 3,000,000.00 2,963,940.00 999,000.00 2,000,000.00 2,998,500.00 1,065,788.37 2,053,420.00 2,035,600.00 2,154,940.00 1 ,987,600.00 1,022,910.00 2,000,000.00 2,047,941 .08 2,000,000.00 RETURN RATE 5.255% 5.250% 3.900% 4.760% 4.677% 3.910% 5.520% 4.357% 2.391% 2.625% 3.818% 5.200% 3.640% 3.889% 4.892% 4.100% 5.000% 4.746% 4.653% 3.890% 4.675% 4.675% 4.061% 4.250% 3.765% 4.022% 4.000% 4.717% 3.800% 3.983% 3.970% 2.625% 4.192% 5.500% 4.361% 2.600% 3.500% INTEREST 256,692.64 256,478.21 460,552.31 415,625.56 220,300.00 310,466.67 488,520.00 348,500.00 176,901.11 183,750.00 184,776.67 260,000.00 192,237.89 160,020.00 243,661.11 401,970.00 500,000.00 705,333.33 460,000.00 331 ,405.40 1,168,750.00 935,000.00 409,022.22 637,500.00 560,476.67 201,000.00 320,000.00 714,000.00 181,163.02 371 ,823.06 392,177.78 259,712.78 405,250.00 243,840.00 440,000.00 258,135.31 355,000.00 INVESTMENT RETURN 1,261,732.64 1,261,732.64 3,511,510.42 2,491,305.56 1 ,257,300.00 2,313,366.67 2,258,520.00 2,348,000.00 2,327,861.11 2,183,750.00 1,192,666.67 1,260,000.00 1 ,431 ,052.08 1,182,750.00 1,250,536.11 2,436,750.00 2,500,000.00 3,738,333.33 2,490,000.00 2,321,794.22 6,168,750.00 4,935,000.00 2,465,822.22 3,637,500.00 3,524,416.67 1 ,200,000.00 2,320,000.00 3,712,500.00 1 ,246,951 .39 2,425,243.06 2,427,777.78 2,414,652.78 2,392,850.00 1 ,266,750.00 2,440,000.00 2,306,076.39 2,355,000.00 TERM (Days) 1,780 1,780 1,424 1,561 1,684 1,448 1,827 1,461 1,294 1,277 1,759 1,827 1,593 1,484 1,813 1,773 1,827 1,798 1,790 1,624 1,827 1,827 1,811 1,827 1,824 1,826 1,826 1,826 1,677 1,678 1,785 1,731 1,771 1,771 1,826 1,788 1,826 INVESTMENT REPORT AS OF FEBRUARY 28, 2009 INVESTMENT DATE 11/10/2008 11/12/2008 03/02/2008 04/24/2007 05/23/2007 11/03/2006 11/01/2007 01/30/2008 01/31/2008 04/09/2008 12/15/2008 03/19/2008 11/01/2007 03/19/2008 02/03/2006 01/31/2008 03/16/2007 10/11/2007 09/28/2007 02/17/2006 03/30/2006 06/20/2006 04/19/2006 06/12/2006 04/16/2007 05/21/2007 05/30/2008 05/30/2008 05/29/2007 03/20/2007 10/11/2007 11/15/2007 v 04/30/2008 MATURITY DATE 08/31/2013 09/30/2013 03/02/2009 08/03/2009 08/10/2009 09/10/2009 10/27/2009 01/15/2010 01/15/2010 01/15/2010 05/18/2010 06/15/2010 07/01/2010 07/01/2010 07/29/2010 08/09/2010 08/15/2010 08/15/2010 08/16/2010 02/14/2011 02/14/2011 02/14/2011 03/01/2011 04/28/201 1 04/28/201 1 05/18/2011 08/26/201 1 09/15/2011 11/15/2011 02/15/2012 02/15/2012 02/15/2012 04/16/2012 TYPE TR TR CD CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN SECURITY SUB-TOTAL Federal Investments Total US TREASURY US TREASURY SUB-TOTAL WELLS FARGO BANK 9218910637 SUB-TOTAL BANK OF AMERICA 4.625% DUE 8/3/09 NON-CALL WAL-MART 6.875% DUE 8/10/09 NON-CALL MERRILL LYNCH 4.125% DUE 9/10/09 NON-CALL GENERAL ELECTRIC 5.250% DUE 10/27/09 NON-CAl BERKSHIRHATWY4.125% DUE 1/15/10 NON-CALL BERKSHIRHATWY4.125% DUE 1/15/10 NON-CALL WELLS FARGO CO 4.2% DUE 1/15/10 NON-CALL TOYOTA 3.834% DUE 5/18/10 NON-CALL GOLDMAN SACHS 4.50% DUE 6/15/10 NON-CALL WAL-MART 4.1 25% DUE 7/01/10 NON-CALL WAL-MART 4.125% DUE 7/01/10 NON-CALL US BANCORP 4.50% DUE 7/29/10 NON-CALL WELLS FARGO 4.625% DUE 08/09/10 NON-CALL WAL-MART 4.75% DUE 8/1 5/1 0 NON-CALL WAL-MART 4.75% DUE 8/15/10 NON-CALL NEW YORK LIFE 4.625% DUE 8/16/10 NON-CALL CITIGROUP 5.1 25% DUE 2/1 4/11 NON-CALL CITIGROUP 5.125% DUE 2/14/1 1 NON-CALL CITIGROUP 5.1 25% DUE 2/1 4/11 NON-CALL HOME DEPOT 5.20% DUE 3/1/1 1 NON-CALL GENERAL ELECTRIC 5.50% DUE 4/28/1 1 NON-CALL GENERAL ELECTRIC 5.50% DUE 4/28/11 NON-CALL TOYOTA 5.450% DUE 5/18/1 1 NON-CALL WELLS FARGO CO 5.30% DUE 8/26/1 1 NON-CALL GENWORTH GLOBAL 5.375% DUE 9/15/1 1 NON-CAL GENERAL ELECTRIC 5.50% DUE 11/15/1 1 CALL 11/1 GENERAL ELECTRIC 5.875% DUE 2/15/12 NON-CALl GENERAL ELETRIC 5.875% DUE 2/15/12 NON-CALL GENERAL ELETRIC 5.875% DUE 2/15/12 NON-CALL PRINCIPAL LIFE INC 4.5% DUE 4/16/12 NON-CALL PAR VALUE 3,000,000.00 333,207,000.00 1,000,000.00 1,000,000.00 2,000,000.00 33,000.00 33,000.00 2,000,000.00 5,000,000.00 5,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 1 ,000,000.00 2,000,040.00 1 ,000,000.00 1 ,000,000.00 2,000,000.00 3,000,000.00 2,000,000.00 3,000,000.00 2,000,000.00 1,000,000.00 5,000,000.00 2,000,000.00 2,000,000.00 3,000,000.00 3,000,000.00 3,000,000.00 4,000,000.00 1 ,000,000.00 2,000,000.00 1 ,850,000.00 5,956,000.00 3,000,000.00 2,000,000.00 1 ,000,000.00 INVESTED AMOUNT 2,914,250.00 337,250,181.80 1 ,031 ,328.00 1,030,781.25 2,062,109.25 33,000.00 33,000.00 1,983,918.00 5,187,303.82 4,884,751 .43 2,030,120.00 2,040,548.16 2,038,582.81 1,018,383.81 1,995,435.91 1,025,648.53 991,910.00 2,060,389.92 2,952,150.09 2,063,614.72 3,002,689.16 1,993,580.00 987,620.00 5,000,000.00 1,991,793.10 1 ,969,446.60 2,974,590.00 3,006,145.34 3,048,646.38 4,054,280.00 1,032,919.79 2,016,628.76 1,850,000.00 6,187,688.40 3,089,347.40 2,089,414.35 1 ,000,000.00 RETURN RATE 3.109% 2.430% 2.452% 2.441% 1.880% 1 .880% 5.000% 5.060% 5.000% 4.450% 3.050% 3.100% 3.120% 4.000% 3.300% 4.448% 2.750% .4.900% 3.300% 4.720% 4.870% 5.090% 5.125% 5.220% 5.500% 5.400% 5.450% 5.050% 5.070% 4.200% 5.100% 5.500% 4.970% 5.100% 4.700% 4.500% INTEREST 171,500.00 45,056,079.15 118,792.86 121,777.13 240,569.99 620.00 620.00 226,519.50 573,720.49 703,633.99 178,713.33 121,014.34 122,750.52 55,816.19 75,492.97 75,101.47 118,090.00 127,985.08 653,849.91 169,690.84 483,790.01 276,642.22 145,734.17 1,279,114.58 507,609.68 507,178.40 784,610.00 798,687.99 616,853.62 815,903.33 138,741.32 344,093.46 453,918.06 1 ,483,867.09 676,360.93 409,960.65 178,375.00 INVESTMENT RETURN 3,085,750.00 382,306,260.95 1,150,120.86 1,152,558.38 2,302,679.24 33,620.00 33,620.00 2,210,437.50 5,761 ,024.31 5,588,385.42 2,208,833.33 2,161,562.50 2,161,333.33 1 ,074,200.00 2,070,928.88 1,100,750.00 1,110,000.00 2,188,375.00 3,606,000.00 2,233,305.56 3,486,479.17 2,270,222.22 1,133,354.17 6,279,114.58 2,499,402.78 2,476,625.00 3,759,200.00 3,804,833.33 3,665,500.00 4,870,183.33 1,171,661.11 2,360,722.22 2,303,918.06 7,671 ,555.49 3,765,708.33 2,499,375.00 1,178,375.00 TERM (Days) 343 1,505 1 ,755 1,783 1,769 365 365 832 810 1,042 726 716 715 646 519 818 973 834 1,637 921 1,248 1,039 1,053 1,823 1,782 1,700 1,777 1,781 1,473 1,458 1,183 1,203 1,631 1,793 1,588 1,553 1,447 INVESTMENT REPORT AS OF FEBRUARY 28, 2009 INVESTMENT DATE 08/31/2007 05/30/2008 07/17/2008 08/31/2007 10/31/2007 11/23/2007 01/30/2008 04/24/2008 05/07/2008 05/30/2008 05/09/2008 12/23/2008 MATURITY DATE 06/15/2012 06/15/2012 07/15/2012 08/15/2012 10/19/2012 10/19/2012 10/23/2012 04/10/2013 04/10/2013 04/30/2013 05/09/2013 05/15/2013 TYPE CN CN CN CN CN CN CN CN CN CN CN CN O O O O O O O O SECURITY GENERAL ELECTRIC 6.00% DUE 6/15/12 NON-CALL GENERAL ELECTRIC 6.00% DUE 6/15/12 NON-CALL PROTECTIVE LIFE 5.050% DUE 7/15/12 NON-CALL JOHNSON & JOHNSON 5.15% DUE 8/15/12 NON-CAL GENERAL ELECTRIC 5.250% DUE 10/19/12 NON-CAI GENERAL ELECTRIC 5.250% DUE 10/19/12 NON-CAI WELLS FARGO 5.250% DUE 10/23/12 NON-CALL MET LIFE GLOBAL FUNDING 5.125% DUE 4/10/13 NC MET LIFE GLOBAL FUNDING 5.125% DUE 4/10/13 NC ALLSTATE LIFE 5.375% DUE 4/30/13 NON-CALL NEW YORK LIFE 4.650% DUE 5/9/13 NON-CALL BERKSHIRHATWY4.60% DUE 5/15/13 NON-CALL WELLS FARGO BANK CORPORATE CASH MANAGEMENT ACCOUNT LIBRARY ACCOUNT UNION TRUST L A I F WATER DISTRICT L A I F PUBLIC IMPROVEMENT CORPORATION L A I F PUBLIC FINANCING CORPORATION L A I F CITY OF CARLSBAD 2 NON-CALL 2 NON-CALL NON-CALL i/12NON-CAL )/1 2 NON-CAI )/1 2 NON-CAI ON-CALL JE4/10/13NC JE4/10/13NC 1N-CALL •N-CALL JON-CALL SUB-TOTAL COUNT RATION ION SUB-TOTAL PAR VALUE 1 ,000,000.00 1 ,000,000.00 3,000,000.00 1 ,000,000.00 2,000,000.00 2,000,000.00 1 ,000,000.00 1 ,000,000.00 2,000,000.00 2,000,000.00 1 ,000,000.00 1 ,000,000.00 92,806,040.00 550,436.00 1,524,163.08 863.42 662.08 28,868,000.00 33,574,000.00 26,532,376.02 29,682,000.00 120,732,500.60 INVESTED AMOUNT 1 ,033,437.31 1 ,052,958.51 3,000,000.00 1,017,457.28 2,036,663.70 2,065,283.50 1,042,814.41 1 ,003,232.48 2,019,402.04 2,023,559.81 1,006,649.66 1 ,023,835.68 93,892,840.86 550,436.00 1,524,163.08 863.42 662.08 28,868,000.00 33,574,000.00 26,532,376.02 29,682,000.00 120,732,500.60 RETURN RATE 5.200% 4.550% 5.050% 4.750% 4.830% 4.500% 4.240% 5.050% 4.900% 5.100% 4.500% 4.000% 4.744% 0.099% 0.099% 0.000% 0.200% 1 .970% 1 .970% 1 .970% 1 .970% 1 .938% INTEREST 253,896.02 189,541.49 605,158.33 237,753.83 484,836.30 449,799.83 205,539.76 251,024.46 485,410.46 504,981 .86 225,850.34 177,542.10 17,175,153.92 1.49 4.13 - 0.00 1 ,579.72 1 ,837.24 1,451.91 1 ,624.27 6,498.77 INVESTMENT RETURN 1 ,287,333.33 1 ,242,500.00 3,605,158.33 1,255,211.11 2,521 ,500.00 2,515,083.33 1,248,354.17 1 ,254,256.94 2,504,812.50 2,528,541.67 1 ,232,500.00 1 ,201 ,377.78 1 1 1 ,067,994.78 550,437.49 1,524,167.21 863.42 662.08 28,869,579.72 33,575,837.24 26,533,827.93 29,683,624.27 120,738,999.37 TERM (Days) 1,750 1,477 1,459 1,811 1,815 1,792 1,728 1,812 1,799 1,796 1,826 1,604 1,366 1 1 1 1 1 1 1 1 GRAND TOTAL 548,778,540.60 553,970,632.51 3.574% 17,617,964.36 614,146,875.10 EXHIBIT 8 CITY OF CARLSBAD Fund Equity in Pooled Investments AS OF FEBRUARY 28, 2009 Cash Balance by Fund: General 61,032,787 Special Revenue 45,620,551 Debt Service 4,072,092 Capital Projects: General Capital Construction 65,713,024 Traffic Impact Fees 14,136,922 Public Facilities Fees 41,833,161 Park Development 2,787,844 Transnet Taxes 5,535,164 Drainage Fees 8,468,247 Special Districts 85,357,073 Infrastructure Replacement 46,501,133 Other Capital Construction 5,021,122 Total 275,353,687 Enterprise: Carlsbad Municipal Water District 62,724,022 Sewer Fund 54,920,729 Solid Waste 6,660,543 Storm Water 1,466,910 Golf Course 786,873 Total 126,559,077 Internal Service 24,779,474 Agency Funds 18,227,210 Redevelopment Funds (1) 0 Misc. Special Funds 0 Total General Ledger Balance ** 555,644,879 Reconciling Adjustments (2) (3,707,054) Total Treasurer's Investment Portfolio at Amortized Cost 551,937,825 (1) Redevelopment Fund Balances are interspersed throughout all funds. (2) The Reconciling Adjustments consist of differences between the General Ledger which is prepared on an accrual basis and the Treasurer's report which is prepared on the cash basis. Accrued Interest, amortized premium or discounts and outstanding checks and deposits in transit are not included in the Treasurer's summary. Differences between the time journal entries are posted and the time this report is produced may also be a component of the adjustment. ** Figures based on best estimate at the time report run on 03/09/09 EXHIBIT 9 CITY OF CARLSBAD INVESTMENT PORTFOLIO As of February 28, 2009 CORPORATE NOTE AND COMMERCIAL PAPER RATINGS Corporate Note Investments Meeting the Current Investment Policy: (Ratings must be AA or better by both Moody's and S&P) Moody's S&P BERKSHIRE HATHAWAY GENERAL ELECTRIC JOHNSON & JOHNSON MET LIFE GLOBAL NEW YORK LIFE PRINCIPAL LIFE TOYOTA US BANCORP WAL-MART WELLS FARGO AAA AAA AAA AAA AAA AAA AA2 AA- AAA AAA AA2 AA- AA1 AA+ AA2 AA AA2 AA AA3 AA Commercial Paper Investments Meeting the Current Investment Policy: (Ratings must be A1/P1 or better by both Moody's and S&P) (Ratings of other debt must be AA or better by Moody's and S&P) NONE Investments with Subsequent Changes in Credit Rating * Moodv's S&P ALL STATE LIFE BANK OF AMERICA CITIGROUP GENWORTH GLOBAL GOLDMAN SACHS HOME DEPOT MERRILL LYNCH PROTECTIVE LIVE A1 AA- AA2 A+ A3 A A1 A A1 A BAA1 BBB+ A1 A A2 AA- Latest Carrying Maturity Date Purchased Value 04/30/2013 05/30/2008 2,019,953 08/03/2009 04/24/2007 1,997,015 02/14/2011 06/20/2006 8,983,880 09/15/2011 05/07/2008 2,012,582 06/15/2010 03/19/2008 1,014,765 03/01/2011 06/12/2006 2,989,558 09/10/2009 11/03/2006 4,978,791 07/15/2012 07/17/2008 3,000,000 Market Value 1,935,760 1 ,977,380 8,341 ,740 1,705,140 990,400 3,014,100 4,925,550 2,779,680 * The City's Investment Policy allows the City Treasurer to determine the course of action that would correct exceptions to the policy. All of these investments are paying interest at the required times. The principal of all investments are considered secure. It is the intent of the City Treasurer to hold these assets in the portfolio until maturity unless events indicate they should be sold. 17 CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF FEBRUARY 28, 2009 WEIGHTINGS FOR CORPORATE AND FEDERAL AGENCY ISSUERS EXHIBIT 10 PERCENTAGE WEIGHTINGS BY CORPORATE NOTE ISSUER ALL STATE LIFE BANK OF AMERICA BERKSHIRE HATHAWAY CfTIGROUP GENERAL ELECTRIC CAP GENWORTH GLOBAL GOLDMAN SACHS HOME DEPOT JOHNSONS JOHNSON MERRILL LYNCH MET LIFE GLOBAL FUND NEW YORK LIFE PRINCIPAL LIFE PROTECTIVE LIFE TOYOTA US BANKCORP WAL-MART WELLS FARGO PERCENTAGE WEIGHTINGS BY FEDERAL FAMCA FICO FEDERAL FARM CREDIT BANK FEDERAL HOME LOAN BANK DISCOUNT NOTE FEDERAL HOME LOAN BANK FEDERAL HOME LOAN MORTGAGE CORP FEDERAL NATIONAL MORTGAGE ASSOC HOUSING URBAN DEVELOPMENT (HUD) TVA U.S.TREASURY Total Portfolio Investment Cost 2,023,559.81 1,983,918.00 5,102,966.65 8,961,239.70 27,489,704.89 2,016,628.76 1,025,648.53 2,974,590.00 1,017,457.28 4,884,751.43 3,022,634.52 1,994,269.66 1,000,000.00 3,000,000.00 6,049,715.91 2,952,150.09 13,235,872.90 5,157,732.73 AGENCY ISSUER Investment Cost 5,795,867.32 4,632,233.56 31,478,125.56 2,914,250.00 157,944,083.40 83,362,300.78 48,002,143.18 990,198.00 2,130,980.00 2,062,109.25 Percent of Portfolio* 0.37% 0.36% 0.92% 1 .62% 4.96% 0.36% 0.19% 0.54% 0.18% 0.88% 0.55% 0.36% 0.18% 0.54% 1 .09% 0.53% 2.39% 0.93% Percent of Portfolio** 1 .05% 0.84% 5.68% 0.53% 28.51% 15.05% 8.67% 0.18% 0.38% 0.37% $553,970,632.51 * No more than 5% may be invested with a single corporate issuer. "There are no percentage limits on federal agency issuers.